Halifax to relaunch regular saver @10%+

nicko33

debbie42 wrote: »

<edit: found another bit>
12% gross pa applicable if nominated account is funded with at least 5Kwithin 14 days of making the opening payment into the Halifax Regular Saver account and maintained for 12 months.

So there's
A=date Regular Saver(RS) account opened
B=date of opening payment into Regular Saver(RS)
C=B+14 (14 days after first payment into RS)
D=date on which Balance of Nominated Account(NA) reaches 5K

if D <= B
i.e. NA already has 5k in on date of first payment into RS
then 5k must stay within NA until B+1 year

if D between B and C
i.e. NA balance reaches 5k within 14 days of first payment into RS
then 5k must stay within NA until D+1 year

it seems to imply that any drop below 5k in the relevant NA 12 month period will result in total loss of the 2% RS bonus for the complete 12 month of the RS

thumshie

Paul_Herring wrote: »

Also to be picky about the wording of the bit you quoted...

The second account must have 5K within 14 days of opening the RS. Say you open the RS on the 10th June, fund the other (in time) on 23rd June.

When is it safe to withdraw the funds from the second account? The wording would suggest the 10th June next year (when the RS matures,) but it could (at a stretch) mean the 23rd

Well, being picky,as interest is credited to the RS on aniversary of first payment they can't re-deduct it if you've already moved it out, so I think moving the £5000 after you've moved the RS funds is safe..

Also being picky they say 12 months, not 365 days.. in theory the £5000 will have been there in 12 seperate months :rotfl:

TomJ

KTF wrote: »

I am on holiday until June 29 and will miss this 'deadline' so I guess the next window will be July 28 where I will need to:

Except for the fact the offer closes on 20 Jul, so you need to apply by then.

1. Go to the branch and open a regular saver and put in £500.
2. Open the guaranteed web saver at 6.25% and put £5k in there to make it 12%
3. Change the date of the next SO to be August 1 and put in another £500.

If this is all correct is your spreadsheet clever enough to work out how much the total interest will be assuming 12x £500 @ 12% + £5k at 6.25% + £6k to feed it sitting in Kaupthing at 6.5% but decreasing by £500 each month?

Not really; it's quite brute force and ignorance, knocked up quickly for the relatively simple RS problem and won't handle the issues Kaupthing Interest compounding or the losses due to Kaupthing not being on facter payments...

heatherw_01

I can't seem to set up a standing order via my current account to the regular saver, it says they are having technical problems each time I try. Anyone else having problems?

YorkshireBoy

heatherw_01 wrote: »

I can't seem to set up a standing order via my current account to the regular saver, it says they are having technical problems each time I try. Anyone else having problems?

If you mean your Halifax current account, see my post #159.

heatherw_01

YorkshireBoy wrote: »

If you mean your Halifax current account, see my post #159.

Oh great, looks like they have had this problem all week then :rolleyes:

Useless online banking. I guess I willl have to get them to call me back to try to set up my SO

Great, the call back page is timing out so I can't get them to call me

ctdctd

12% rate sorted.

Opened Guaranteed Saver online with zero balance.
RS online application does not show this as option for nominated account so called them.

They have set up new 12% RS with 1st payment from Halifax current account today and subsequent ones via SO from July 1st.

Guaranteed Saver has to have 5K in it within 14 days and maintained for the term of the RS to get 12%. If it goes below 5K the rate for the whole RS term drops to 10%.
If I make more than one withdrawal from the GS the rate for it becomes 5.25% variable, otherwise it is 6.25% fixed.

HTH

FairyElephant_2

I posted this yesterday, but people seem to still be asking the same question today, so in the interest (no pun intended!) of clarity:

"The helpful chappie who opened the new acct explained re the £5k to get the extra 2% (which sadly I don't have so couldn't do even if I wanted to!) - To answer some previous posters' questions - he said that you need to keep at least £5k in the nominated acct FOR THE WHOLE YEAR - if the balance drops below £5k you don't get any of the extra 2%. Hope that helps some people."

And - No - you can't change the nominated account partway through the year (I tried to do that with LY's 7% reg. saver when I was 'tidying up' my accounts, but you have to stick with the account you nominated when you opened the reg. saver).

IMHO - If I DID have £5k lump sum, I think there's better places to put it than the Halifax accts which offer the 2% incentive to the 10% - but the 10% itslef is a great deal if you have 'new money' to save each month, or can drip-feed from another account where the interest is good meantime.

Happy Saving people!

FE

pfpf

hi,

i set up a RS on monday night but didnt fund as Barclays no longer allow me to set up knew transfers without "pin sentry" :mad: which i didnt know about until i tried.


i am sure i have read somewhere here that the anniversary date isnt set until the 1st payment hits the account.

having checked online today the account has been updated with one or two more details, mainly:

Halifax Regular Saver ENQUIRY ONLY SERVICE

&

Anniversary date 10 June 2009

i am assuming the 1st is due to not being able to service the account online, as in not being able to withdraw/deposit, but the 2nd i am a little niffed at as i am already losing interest?

anyone else got an Anniversary date even though the account isnt funded?

amazamum

I there a mimimum/maximum amount that you can set the account up with?.
Could I put in 10,000 pounds then fund 500 pounds from another bank account for the 12 months?.
What sort of tax do you pay anyone know how to work it out.
Thanks